BITCOIN THIS IS GOING TO CHANGE EVERYTHING!
My Financial Friend
Introduction to Market Changes
A recent company acquisition is expected to change the valuation of every asset on Earth and signifies the direction of the future.
Bitcoin News and Market Trends
- A Hong Kong legislator proposed adding Bitcoin to national reserves for financial security.
- Bloomberg stated that the Black Rock Spot Bitcoin ETF is the greatest launch in ETF history, attracting more eyeballs to Bitcoin.
- BitGo's CEO, Mike Belshey, mentioned that they are in talks with multiple corporate clients about adding Bitcoin to their balance sheets.
- Over 70 companies have added Bitcoin to their balance sheets, buying millions of dollars worth.
Countering Bearish Views
- Jacob King, a bear, claimed Tether has disappeared and that Bitcoin will collapse, but these claims are disputed as Tether is still active, and Micro Strategy's stock, while down, doesn't indicate a collapse.
- Micro Strategy bought $200 million worth of Bitcoin, showing continued investment.
Big Buyers and Market Movement
- Clean Spark acquired $170 million worth of Bitcoin.
- Genius Group bought $10 million worth of Bitcoin for its treasury.
- Micro Strategy and Tether also made significant purchases.
- The market has buyers and sellers; the question is the balance between those wanting to sell and those wanting to buy.
Outlook and Investment Advice
- Bitcoin is down but still up 100% to 120% on the year, indicating a potential for growth.
- It might be a good time to dollar-cost average, considering the potential for further volatility.
- The Fear and Greed Index is at 50, suggesting the market is not at an extreme.
AI and Its Impact
- Nvidia bought Run AI for $700 million and open-sourced the software, likely to avoid antitrust issues and to give AI teams flexibility.
- AI companies, including Google, Microsoft, Amazon, and Tesla, are spending significantly on AI, which will disrupt everything and make processes more efficient.
- The impact of AI is hard to fully understand but is expected to be as significant as the internet and cell phones have been.
- In times of prosperity and abundance brought by AI, the value of items that cannot be made more of, like Bitcoin, might increase.